Worldlink Secures Additional Funding

RNS Number : 7423S

Worldlink Group Plc

25 November 2011

 

Worldlink Secures Conditional Commitment of Further €10 Million in Equity Line Funding

25 November 2011 commitment of €10 Million of equity line funding.   The total amount of potential funding through the equity line is now €15 Million.  Funchal Equity Partners SP ("Funchal") has committed to €5 Million and Zigong Commercial Equity Partners Fund SP ("Zigong") has also committed to €5 Million, subject to the terms of a special private placement agreement.  

The subscription terms of the special private placement agreement provide that the price at which shares may be subscribed for is 90% of the lowest daily volume weighted average price during the 15 days following receipt by the subscriber of a draw down notice from the company. 

Speaking about the agreement with Funchal and Zigong, Worldlink Managing Director Neil Riches said "This funding agreement enables the company to dynamically respond to market dynamics as well as provides the ability to deploy new technologies markedly ahead of schedule. We are happy that Funchal and Zigong are conditionally committed to meet the funding needs of Worldlink."  

About Zigong Commercial Equity Partners Fund SP, Funchal Equity Partners Fund and Equity Partners Fund SPC

Zigong Commercial Equity Partners Fund SP and Funchal Equity Partners Fund SP are segregated portfolio companies of Equity Partners Fund SPC and focus on equity investments in public companies as well as private companies that will be listed on a securities exchange within six months of a funding commitment. The Fund looks for companies with experienced management teams that need additional capital for a variety of activities including working
capital, acquisitions and other growth opportunities.

Equity Partners Fund SPC focuses on equity investments in public companies with market capitalizations under $1 billion, as well as private companies that will be listed on a securities exchange within six months of a funding commitment.

Bruce Nelson
Ph: 0402 823 343
Mob: [phone]
URL: http://www.equitypartnersfund.com
Email: [e-mail]

ABOUT WORLDLINK GROUP PLC

Worldlink is a technology company that provides a platform service through which it and third parties can deliver financial data and trading applications to consumers.  The Group owns intellectual property in the mobile telecommunication sector for the transmission of automatically updated, real time data where the user selects the information he wishes to receive.  The UK and US patent numbers are GB 23 58 768 and US 7 194 468.

For more information about Worldlink and its businesses please visit www.worldlink-data.com 

For further information, please contact:

 Neil Riches                                                                  Tel: [phone]

Managing Director

Worldlink Group plc

Phil O'Connell                                                               Tel: [phone]

Bridge Hall Stockbrokers

Mike Wort / Anna Dunphy                                           Tel [phone]

De Facto Financial

 

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